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Sierra Madre Real Estate Trends and Home Sales Info for Feb 2010

Sierra Madre foreclosure and real estate data

Sierra Madre home sales statistics are below for the last couple of months. February's average price per sq. ft. for sold homes in Sierra Madre is a bit misleading since it's based on only 2 sales and is not truly representative of the real estate market in this foothill community.

Single Family Residence	Dec-09	Jan-10	Feb-10
New Listings	5	4	8
Total Listings	24	19	23
Sales Pending	7	5	4
Homes Sold	6	6	2
Listings Expired	8	2	4
Average Days on the Market	75	127	71
Average Price Per Sq. Ft.	$430	$416	$506.42
Median Selling Price	$700,000	$740,000	$615,000
Average Selling Price	$676,167	$885,667	$615,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	17.3	13.7	49.8

Condos and Townhomes	Dec-09	Jan-10	Feb-10
New Listings	0	1	0
Total Listings	1	1	1
Sales Pending	1	1	n/a
Homes Sold	4	3	n/a
Listings Expired	0	1	n/a
Average Days on the Market	113	25	n/a
Average Price Per Sq. Ft.	$329	$349	n/a
Median Selling Price	$520,500	$499,000	n/a
Average Selling Price	$507,750	$490,833	n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	1.1	1.4	n/a

Information above from Pasadena Foothill Association of Realtors, ITEC MLS service.

Even though the inventory of Sierra Madre condos and townhomes was almost non-existent in the month of February, March saw an additional 3 homes listed, bringing the total number of condo and townhome listings available for purchase at 4. You can find information on these homes on our Sierra Madre Condo and Townhome post here or see the box below.

Median price sold for Sierra Madre is all over the place if you take a look at the graph below. This is due to the unconventional and eclectic real estate market in this community. Sierra Madre is known for the small cottages and bungalows as well as view estates. The inventory of homes available for sale is low and at any point in time can vary significantly in its price point. There are Sierra Madre homes available starting at $360,000 and going up all the way to over $2.5 million.

Sierra Madre median home price Feb 2010

Sierra Madre Homes for Sale:

Sierra Madre Foreclosure Homes for Sale:

Foreclosure Radar reports that there are currently 3 lender owned (REO) homes. However, this foreclosure inventory has not been released for sale as of the writing of this post. There are currently another 25 homes that are in the pre-foreclosure process. There is a land listing on Oak Crest Drive and 1 single family home that just came up on the market. Get all the details for these Sierra Madre foreclosures listed on the MLS here.

Track Sierra Madre and California foreclosure information with our new foreclosure service here.

Read More: Understanding Foreclosure Steps

Foreclosure Friday - Kinneloa Canyon

Foreclosure Friday - South Pasadena's Monterey Road and South Pasadena's Brunswick bungalow

Foreclosure Friday - Bungalow Heaven Craftsman

Interested in learning more about Sierra Madre's real estate market? Call us for a free market analysis of your home today - 626-629-8439.

PasadenaViews Real Estate Team

Sierra Madre Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

Irina at PasadenaViews.com